Singapore-based aircraft lessor BOC Aviation has signed a purchase-and-leaseback agreement with Qatar Airways for three new Airbus A350 twin-aisle aircraft.

The transactions are expected to close in the third quarter this year.

BOC Aviation managing director and CEO Robert Martin said: “Our relationship with Qatar Airways dates back 20 years to 1999 and we are very pleased to partner with our largest customer once again to support their fleet and network expansion plans.

“This addition to our portfolio of popular, in-demand aircraft on long-term leases to strong airline customers is in line with our strategy of growing our fleet through disciplined investment. We look forward to building on our long-standing relationship with Qatar Airways.”

The Airbus A350 aircraft is a twin-aisle aircraft equipped with Rolls Royce Trent XWB engines. It is built with more than 70% advanced materials, combining carbon composites (53%), titanium and modern aluminium alloys, creating a cost-effective aircraft with reduced maintenance requirements.

The aircraft’s advanced technology delivers the highest possible air quality with optimised cabin altitude (6,000ft), temperature and humidity, with the air being renewed every two to three minutes.

In August 2017, BOC Aviation finalised a deal with Boeing to buy ten 737 MAX 10 aircraft for an aggregate price of $1.25bn. Both companies signed a memorandum of understanding (MoU) regarding the deal in June 2017.

With additional offices in Dublin, London, New York and Tianjin, BOC Aviation’s owned and managed fleet was leased to 92 airlines worldwide across 40 countries and regions.